Which mining is good to start? - page 2.

ABCbits

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Quote from: bettercrypto on February 15, 2023, 05:34:23 AM

Quote from: ?? on ??

--snip--

Do you think 0.18$ kWh will be good to say that I can break even for this things If ever I begin to mine Bitcoin?

Honestly, this is what I consume here in my home according to per hour based on kWh. So I think, I supposed to
expect a high cost for the electricity for the first month I guess. But I will observe it for the first trial as of the moment.

$0.18/kWh is definitely bad electricity rate for mining. Even if you use Antminer S19 XP Hyd (255Th) which have best energy efficiency[1], your profit is very small[2] and you'll not reach break even before more efficient ASIC comes out.

[1] https://www.asicminervalue.com/efficiency/sha-256
[2] https://www.asicminervalue.com/miners/bitmain/antminer-s19-xp-hyd-255th

Fara Chan

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Quote from: bettercrypto on February 05, 2023, 11:19:10 AM

I am planning to buy a mining rig here in bitcoin, but this is my first time.
What would you suggest to me?

Starting mining using a Rig, I think this requires space, but it depends on how much you are going to buy, even if you are not too worried about capital issues, I think besides buying Rigs and media that perform optimally/adequately to do mining and get results it is also necessary considered in terms of electricity costs. but what I know is that most users of Rig mining like the brand industry dominate Altcoins, one of the examples I said was that some of the ones I've seen were mining on Ethereum.

it looks like you also need to consider between Asic, Rig Mining, and Electricity Costs at your place, I know Asic is more effective in terms of using Bitcoin mining and Asic also requires slightly higher electricity costs, so far most of them are Bitcoin Mining using ASIC, but back to your wants and needs.

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Quote from: ?? on ??

Quote from: bettercrypto on February 07, 2023, 10:56:32 AM

Quote from: Daltonik on February 07, 2023, 03:03:17 AM

--snip--
But this is your choice if you decide to go this way, you can use the recommendations from NiceHash https://www.nicehash.com/blog/post/how-to-start-mining-bitcoin-in-2022

I'm sorry that I'm a little late in the responses here because I'm reviewing the plan I'm going to make, I'm a little wrong at this point about what I'm planning to buy. But here at nicehash, It seems to be okay and I got interested in this matter. And I think the NVIDIA Tesla A100 mining hardware is the best based on my review on the website you provided.

I hope you've read the disclaimer which state you actually don't mine Bitcoin. Additionally the article is slighty outdated since newer GPU type (such as RTX 4000 series) exist.

Quote from: bettercrypto on February 07, 2023, 10:56:32 AM

Quote

Check electricity price on your area and reserve location (e.g. your basement) to host your mining

I have a small stock room and I will put an aircon before I begin to host mining here.

Sounds good. Many miner use such room. I hope your electricity price is rather low ($0.06/kWh or lower).

Do you think 0.18$ kWh will be good to say that I can break even for this things If ever I begin to mine Bitcoin?

Honestly, this is what I consume here in my home according to per hour based on kWh. So I think, I supposed to
expect a high cost for the electricity for the first month I guess. But I will observe it for the first trial as of the moment.

gunhell16

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Quote from: ?? on ??

Quote from: bettercrypto on February 07, 2023, 10:56:32 AM

Quote from: Daltonik on February 07, 2023, 03:03:17 AM

--snip--
But this is your choice if you decide to go this way, you can use the recommendations from NiceHash https://www.nicehash.com/blog/post/how-to-start-mining-bitcoin-in-2022

I'm sorry that I'm a little late in the responses here because I'm reviewing the plan I'm going to make, I'm a little wrong at this point about what I'm planning to buy. But here at nicehash, It seems to be okay and I got interested in this matter. And I think the NVIDIA Tesla A100 mining hardware is the best based on my review on the website you provided.

I hope you've read the disclaimer which state you actually don't mine Bitcoin. Additionally the article is slighty outdated since newer GPU type (such as RTX 4000 series) exist.

Quote from: bettercrypto on February 07, 2023, 10:56:32 AM

Quote

Check electricity price on your area and reserve location (e.g. your basement) to host your mining

I have a small stock room and I will put an aircon before I begin to host mining here.

Sounds good. Many miner use such room. I hope your electricity price is rather low ($0.06/kWh or lower).

Here is the place I am in I think bitcoin mining will not work here, because the per hour I consume in electricity is around 0.3kWh.

So if a miner has 3000W its kWh can play 3kWh x 24hrs a day and it is at 72kWh per day, it is too high for me because my consumption in a month at my house is at 230kWh and that is around 40$-50$ a month. So I will only lose if I do that.

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Quote from: bettercrypto on February 07, 2023, 10:56:32 AM

And I think the NVIDIA Tesla A100 mining hardware is the best based on my review on the website you provided.

Again, this is Bitcoin mining, if you want to mine altcoins this is the section:
https://bitcointalk.org/index.php?board=160.0
Just a head's up, the video card you're looking at is worth around ~$10k and is mining you 80 cents, so do the math for the ROI, is around 30 years!
/end shitcoin discussion

Quote from: bettercrypto on February 07, 2023, 10:56:32 AM

I have a small stock room and I will put an aircon before I begin to host mining here.
~
Thanks for this I saw and checked all the specification of which is the best to buy.

The first and most important thing, that will probably nullify all your future plans or make them far more attractive, the first thing you need to mention, is how much you pay for electricity in kw/h and how much can you get at those prices.
Because having free energy but a cap of 100kwh a month is not the same and far worse than 5cents/kwh and unlimited consumption.
If you want help, start providing us with info, otherwise, we're just guessing here.

KupaCrypto

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Bitcoin Mining is very good but the cost of the machines is very expensive, if you can ignore the cost and get the equipments it will really help, the more you pay for the equipments the more you stand the chance of having a Profit,
Mining pools can help you get fast profits because they share workloads and have faster measures of how many calculations can be carried out in a second.
When it comes to harsh rates using Antiminer S19 pro is the best based efficiency, and consumption of power.

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Quote from: bettercrypto on February 07, 2023, 10:56:32 AM

Quote from: Daltonik on February 07, 2023, 03:03:17 AM

Quote from: bettercrypto on February 06, 2023, 10:21:04 AM

As a first timer who will engage in crypto mining, in my research and knowledge but I'm not sure if this method is effective for a starter like me.
Intend to buy the following,
* Frame - mining rig frame with screwdriver, 6/8 Gpu miner
mining rack rig.
<...>
* Power Supply - EVGA 460w bronze ATX power supply
<...>
What do you think about this I am planning with, is it good or can you suggest me other things?

You started the thread with a post about your intention to mine bitcoin, but did not announce how much you plan to spend, then you could assess the potential for acquiring Asic, as a result it turns out that you just want to try mining and as can be seen from the components, apparently this is mining on video cards, but then why did you choose such a low-power power supply.

But this is your choice if you decide to go this way, you can use the recommendations from NiceHash https://www.nicehash.com/blog/post/how-to-start-mining-bitcoin-in-2022

I'm sorry that I'm a little late in the responses here because I'm reviewing the plan I'm going to make, I'm a little wrong at this point about what I'm planning to buy. But here at nicehash, It seems to be okay and I got interested in this matter. And I think the NVIDIA Tesla A100 mining hardware is the best based on my review on the website you provided.

Quote

Check electricity price on your area and reserve location (e.g. your basement) to host your mining

I have a small stock room and I will put an aircon before I begin to host mining here.

Quote

Antminer S19 XP. If it's not available for you, you can use https://www.asicminervalue.com/efficiency/sha-256 to find Bitcoin/SHA-256 ASIC with good energy efficiency.

Thanks for this I saw and checked all the specification of which is the best to buy.

I have considered to start mining Bitcoin several times in the past. Last time back in ~2019. I came to a conclusion that it would be more profitable to just invest in Bitcoin. You need to run a really big operation, preferably solar powered to at least break even. Geographical location is also extremely important. Cold climate lets you save on cooling (Iceland, Siberia), electricity prices can also differ by a lot. With every halving you need a bigger farm to remain sustainable. The times of a solo miner ir your basement are long over. Sad

bettercrypto

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Quote from: Daltonik on February 07, 2023, 03:03:17 AM

Quote from: bettercrypto on February 06, 2023, 10:21:04 AM

As a first timer who will engage in crypto mining, in my research and knowledge but I'm not sure if this method is effective for a starter like me.
Intend to buy the following,
* Frame - mining rig frame with screwdriver, 6/8 Gpu miner
mining rack rig.
<...>
* Power Supply - EVGA 460w bronze ATX power supply
<...>
What do you think about this I am planning with, is it good or can you suggest me other things?

You started the thread with a post about your intention to mine bitcoin, but did not announce how much you plan to spend, then you could assess the potential for acquiring Asic, as a result it turns out that you just want to try mining and as can be seen from the components, apparently this is mining on video cards, but then why did you choose such a low-power power supply.

But this is your choice if you decide to go this way, you can use the recommendations from NiceHash https://www.nicehash.com/blog/post/how-to-start-mining-bitcoin-in-2022

I'm sorry that I'm a little late in the responses here because I'm reviewing the plan I'm going to make, I'm a little wrong at this point about what I'm planning to buy. But here at nicehash, It seems to be okay and I got interested in this matter. And I think the NVIDIA Tesla A100 mining hardware is the best based on my review on the website you provided.

Quote

Check electricity price on your area and reserve location (e.g. your basement) to host your mining

I have a small stock room and I will put an aircon before I begin to host mining here.

Quote

Antminer S19 XP. If it's not available for you, you can use https://www.asicminervalue.com/efficiency/sha-256 to find Bitcoin/SHA-256 ASIC with good energy efficiency.

Thanks for this I saw and checked all the specification of which is the best to buy.

ABCbits

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Quote from: bettercrypto on February 05, 2023, 11:19:10 AM

what should be done first?

Check electricity price on your area and reserve location (e.g. your basement) to host your mining rig.

Quote from: bettercrypto on February 05, 2023, 11:19:10 AM

Also, what type of mining rigs should I buy, there is no problem with the capital,

Antminer S19 XP. If it's not available for you, you can use https://www.asicminervalue.com/efficiency/sha-256 to find Bitcoin/SHA-256 ASIC with good energy efficiency.

Quote from: bettercrypto on February 05, 2023, 11:19:10 AM

I just really want to try, and at least before the bitcoin halving comes, I have already started this kind of thing.

If you only want to try for short duration and absolutely have no intention to make money, consider mining Bitcoin testnet with old GPU instead. If you're interested, check [Guide] Solo mine testnet bitcoins with bfgminer, Bitcoin Core, and a CPU/GPU.

Quote from: bettercrypto on February 06, 2023, 10:21:04 AM

Intend to buy the following,

--snipped general computer hardware--

What do you think about this I am planning with, is it good or can you suggest me other things?

As @Z390 said, there's almost no profitable coin which can be mined with GPU. See https://www.whattomine.com/ for how much you could ~~gain~~ lose.

Z390

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Quote from: bettercrypto on February 06, 2023, 10:21:04 AM

As a first timer who will engage in crypto mining, in my research and knowledge but I'm not sure if this method is effective for a starter like me.

Intend to buy the following,

* Frame - mining rig frame with screwdriver, 6/8 Gpu miner
mining rack rig.
* Motherboard - ASRock Z97xkiller 3.1 motherboard
* CPU - Inteli5-4690k 9GHz- socket LGA 1150
* Memory - PNY 8GB DDR3 1600 PC3-12800
* CPU cooler - ARCTIC Alpine12 - CPU cooler for intel sockets
* Power Supply - EVGA 460w bronze ATX power supply
* USB thumbdrive - Sandisk 16GB ultra fit USB 3.1 flash drive - SDCZ430-016G-G46
* GPU risers - 009S Plus PCIE riser 1x to 16x graphic extension for GPU mining.
* GRAPHIC CARDS(1 to get started ) - MSI GTX 1660 TI OC 6B graphic card.

What do you think about this I am planning with, is it good or can you suggest me other things?

Unfortunately, OP can't mine Bitcoin with the solution you are providing. This is for altcoins and it's even a total waste of money right now since Ethereum is no more a proof of work project, OP started that he planned to build a mining rig in bitcoin I guess that's why the topic is created in the Bitcoin mining section.

OP we need to know how much you've successfully stacked up for buying a miner for Bitcoin mining, it is very important, also we need to know that state of your electricity bill in your country, people with cost electricity bill can't go well with Bitcoin mining.

gunhell16

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Quote from: Daltonik on February 07, 2023, 03:03:17 AM

Quote from: bettercrypto on February 06, 2023, 10:21:04 AM

As a first timer who will engage in crypto mining, in my research and knowledge but I'm not sure if this method is effective for a starter like me.
Intend to buy the following,
* Frame - mining rig frame with screwdriver, 6/8 Gpu miner
mining rack rig.
<...>
* Power Supply - EVGA 460w bronze ATX power supply
<...>
What do you think about this I am planning with, is it good or can you suggest me other things?

You started the thread with a post about your intention to mine bitcoin, but did not announce how much you plan to spend, then you could assess the potential for acquiring Asic, as a result it turns out that you just want to try mining and as can be seen from the components, apparently this is mining on video cards, but then why did you choose such a low-power power supply.

But this is your choice if you decide to go this way, you can use the recommendations from NiceHash https://www.nicehash.com/blog/post/how-to-start-mining-bitcoin-in-2022

Maybe OP is doing some research first about the first thing he mentioned here Bitcoin mining what would be better, maybe in his research what he found is not suitable for bitcoin mining but instead for crypto mining, so maybe he asked first.

But this is a good platform that you gave to OP that if he decides to start bitcoin mining it would be good to use it for starters like him.

Daltonik

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Quote from: bettercrypto on February 06, 2023, 10:21:04 AM

As a first timer who will engage in crypto mining, in my research and knowledge but I'm not sure if this method is effective for a starter like me.
Intend to buy the following,
* Frame - mining rig frame with screwdriver, 6/8 Gpu miner
mining rack rig.
<...>
* Power Supply - EVGA 460w bronze ATX power supply
<...>
What do you think about this I am planning with, is it good or can you suggest me other things?

You started the thread with a post about your intention to mine bitcoin, but did not announce how much you plan to spend, then you could assess the potential for acquiring Asic, as a result it turns out that you just want to try mining and as can be seen from the components, apparently this is mining on video cards, but then why did you choose such a low-power power supply.

But this is your choice if you decide to go this way, you can use the recommendations from NiceHash https://www.nicehash.com/blog/post/how-to-start-mining-bitcoin-in-2022

NotFuzzyWarm

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Quote from: bettercrypto on February 06, 2023, 10:21:04 AM

As a first timer who will engage in crypto mining, in my research and knowledge but I'm not sure if this method is effective for a starter like me.

Intend to buy the following,

What do you think about this I am planning with, is it good or can you suggest me other things?

Everything you listed is for mining altcoins aka crapcoins- NOT BTC which is all but impossible to mine using anything but an ASIC-based miner. As such, discussion of that gear has no place in this BTC-only area of the Forum.

If you want to discuss altcoin hardware then use the area here that is dedicated to it.

bettercrypto

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As a first timer who will engage in crypto mining, in my research and knowledge but I'm not sure if this method is effective for a starter like me.

Intend to buy the following,

* Frame - mining rig frame with screwdriver, 6/8 Gpu miner
mining rack rig.
* Motherboard - ASRock Z97xkiller 3.1 motherboard
* CPU - Inteli5-4690k 9GHz- socket LGA 1150
* Memory - PNY 8GB DDR3 1600 PC3-12800
* CPU cooler - ARCTIC Alpine12 - CPU cooler for intel sockets
* Power Supply - EVGA 460w bronze ATX power supply
* USB thumbdrive - Sandisk 16GB ultra fit USB 3.1 flash drive - SDCZ430-016G-G46
* GPU risers - 009S Plus PCIE riser 1x to 16x graphic extension for GPU mining.
* GRAPHIC CARDS(1 to get started ) - MSI GTX 1660 TI OC 6B graphic card.

What do you think about this I am planning with, is it good or can you suggest me other things?

BitMaxz

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Block halving is coming.

Take note you can only mine Bitcoin with ASIC based machine so CPU and GPU are no longer supported. Even if it is supported it's not profitable due to difficulty.

If I were you better start reading this "First time/Small miner reference for getting started."

If you still decided to mine bitcoin then for cheap units Canaan.io units are cheap but power-hungry Antminer units is also a great option their latest units is the highest profitability due to efficiency.

Stalker22

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Quote from: bettercrypto on February 05, 2023, 11:19:10 AM

I am planning to buy a mining rig here in bitcoin, but this is my first time.
What would you suggest to me?
~

Looks like you have got some homework to do before buying a Bitcoin mining rig! Asking these questions is like trying to bake a cake without knowing the ingredients. Trust me, you do not want to bite into that!

My advice is to do your research and make sure you fully understand what you are getting into. Mining Bitcoin has its ups and downs, and it is important to know all the ins and outs, including how it works, what kind of hardware you need, and what kind of returns you can expect. And don't just rely on advice from unverified sources, such as random individuals on online forums – take your time and gather all the facts before diving in.

bettercrypto

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I am planning to buy a mining rig here in bitcoin, but this is my first time.
What would you suggest to me?
what should be done first? Also, what type of mining rigs should I buy, there is no problem with the capital,
I just really want to try, and at least before the bitcoin halving comes, I have already started this kind of thing.

Your help is much appreciated Wink

Topic: Which mining is good to start? - page 2. (Read 736 times)